Meticulous Research®—a leading global market research company, published a research report titled, ‘Plant-based Butter Market by Type (Salted, Unsalted); Source (Peanut, Almond, Cashew, Soy, Coconut); Distribution Channel (Supermarkets and Hypermarkets, Online Retail, Convenience Stores, Specialty Stores); and Geography - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the global plant-based butter market is projected to reach $2.08 billion by 2030, at a CAGR of 10.8% from 2023 to 2030. The growth of the plant-based butter market is mainly attributed to the increasing vegan population, rising awareness about plant-based butter, and growing health concerns due to the consumption of dairy butter. Furthermore, technological advancements in the processing of plant-based butter is expected to create market growth opportunities. However, high prices of plant-based butter is expected to hinder the growth of this market to some extent.
The plant-based butter market is segmented by type (salted butter and unsalted butter), source (peanut, almond, cashew, soy, coconut, and other sources), distribution channel (supermarkets and hypermarkets, online retail, convenience stores, specialty stores, and other distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country levels.
Among all the types studied in this report, the salted butter segment is expected to account for the largest share of the global plant-based butter market in 2023. The large market share of this segment is attributed to the beneficial properties of salted butter, including flavor enhancement and natural preservatives. Also, the low risk of nutrient degradation and spoilage, high shelf life, and economical as compared to unsalted butter further support the growth of this segment.
Among all the sources studied in this report, in 2023, the peanut butter segment is expected to dominate the global plant-based butter market. The dominant position of this segment is mainly attributed to its easy and high availability, low cost, high consumer acceptance, and high nutritional content.
Among all the distribution channels studied in this report, the online retail segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to factors such as the wide variety of options available at discounted rates compared to traditional retail stores and the convenience provided by online channels, such as doorstep delivery.
Among all the regions studied in this report, in 2023, Asia-Pacific is expected to account for the largest share of the plant-based butter market. The large market share of this region is attributed to the growing awareness of the consumption of a healthy diet, increasing urbanization and growing income level, rising indulgence of the large population base in the region in sports & recreational activities, and growing vegan population.
The global plant-based butter market is characterized by a moderately competitive scenario due to many large and small-sized global, regional, and local players. The key players operating in the global plant-based butter market are Miyoko's Kitchen (U.S.), Naturli’ Foods A/S (Denmark), Valio Ltd (Finland), Violife (U.S.), Olivio Premium Products Corp. (U.S.), Epicurean Butter (U.S.), Conagra Brands (U.S.), Melt Organic (U.S.), MONTYS NYC LLC (U.S.), and Sanitarium Health and Wellbeing Company (Australia).
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5635
Key Questions Answered in the Report-
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research